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Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
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Name : |
MINAMI-MACHI SANGYO KAISHA LTD |
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Registered Office : |
Heiwa Bldg 4F, 1-7-1 Hamamatsucho Minatoku Tokyo 105-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
1964 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of
ferroalloy, electronics parts & components |
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No. of Employees : |
23 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 57.1 Million |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
MINAMI-MACHI SANGYO KAISHA LTD
REGD NAME: Minami-Machi
Sangyo KK
MAIN OFFICE: Heiwa
Bldg 4F, 1-7-1 Hamamatsucho Minatoku Tokyo 105-0013 JAPAN
Tel:
03-3432-6935
Fax: 03-3437-5902
URL: http://minasan.co.jp
E-mail: info@minasan.co.jp
Import,
wholesale of ferroalloy, electronics parts & components
Yokohama,
Morioka
Qingdao
(China)
TAKEHARU
ASANO, PRES Fumiyo Ohye,
s/mgn dir
Tomiharu
Okuyama, s/mgn dir Sakunori
Nagasaki, mgn dir
Satomi
Harada, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,179 M
PAYMENTS No Complaints CAPITAL Yen 32 M
TREND UP WORTH Yen 463 M
STARTED 1964 EMPLOYES 23
TRADING HOUSE SPECIALIZING IN FERROALLOY & ELECTRONIC
MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 57.1 MILLION, 30 DAYS NORMAL TERMS.
The subject company was established by Toshikazu Asano in
order to make most of his experience in the subject line of business. Takeharu is the founder’s son, who took the
pres office in Aug 2001. This is a
trading house for import, export and wholesale of ferroalloy, electronics parts
& components, other. Has office in
Qingdao, China, which functions as import/export business agent. Clients include major electronics mfrs and
wholesalers nationwide, with strong relations with Furukawa Electric Co.
The sales volume for Mar/2011 fiscal term amounted to Yen
6,179 million, a 30% up from Yen 4,755 million in the previous term. Market recovered after heavily affected by
the global economic downturn in the previous term. Business from and Into China was robust. The operations, however, dipped into the red
to register Yen 11 million recurring loss and Yen 55 million net losses for the
term. This is referred to the high Yen
eroding earnings and profits in Yen terms.
Foreign currency exchange losses incurred. This compares with Yen 18 million recurring
profit and Yen 14 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the operations are
projected to come back to profitability to post Yen 30 million recurring profit
and Yen 25 million net profit, respectively, on an 8% rise in turnover, to Yen
6,700 million. China business continues
growing.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 57.1 million, on 30 days normal terms.
Date Registered: Jul
1964
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 256,000 shares
Issued:
64,000 shares
Sum: Yen 32 million
Major shareholders (%): Takeharu Asano (35.8),
Toshikazu Asano (12.06), Furukawa Electric Co (6.3)
No. of shareholders: 28
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales silicon,
ferroalloy, rolled coppers, other nonferrous metals, electronic parts,
components & materials, special steel, seamless/welded steel pipes &
tubes, stainless steel plates & coils, nickel alloy products, others
(--100%).
Shanghai office functions as import/export agent.
Clients: [Mfrs, wholesalers] Toshiba Corp,
Ebara Corp, Furukawa Electric, JFE Trading, Nihon Yakin Kagaku Kogyo, Hitachi
Plant Engineering & Construction, Sanki Engineering, Splice Sleeve Japan,
other.
Exports to China, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Furukawa
Electric, Nihon Yakin Kagaku Kogyo, Daido Special Metal, Toshiba Corp, Neomax,
Tanaka Chemical Corp, Takagi Gomu Kogyo, Sumitomo Metal Ind, other.
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Mizuho
Bank (Ginza-Chuo)
SMBC
(Jiyugaoka)
Relations:
Satisfactory
FINANCES: (In
Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
6,700 |
6,179 |
4,755 |
7,203 |
|
Recur.
Profit |
|
30 |
-11 |
18 |
9 |
|
Net
Profit |
|
25 |
-55 |
14 |
6 |
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Total
Assets |
|
|
4,268 |
3,769 |
3,841 |
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Current
Assets |
|
|
3,779 |
3,473 |
3,617 |
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Current
Liabs |
|
|
2,426 |
1,667 |
1,622 |
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Net
Worth |
|
|
463 |
519 |
509 |
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Capital,
Paid-Up |
|
|
32 |
32 |
32 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
8.43 |
29.95 |
-33.99 |
-42.86 |
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Current Ratio |
|
.. |
155.77 |
208.34 |
223.00 |
|
N.Worth Ratio |
.. |
10.85 |
13.77 |
13.25 |
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R.Profit/Sales |
|
0.45 |
-0.18 |
0.38 |
0.12 |
|
N.Profit/Sales |
0.37 |
-0.89 |
0.29 |
0.08 |
|
|
Return On Equity |
.. |
-11.88 |
2.70 |
1.18 |
|
Notes:
Forecast (or estimated) figures for 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.01 |
|
UK Pound |
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.17 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.